The implementation of the goods and services tax (GST) has ensured that 2017 would be known as the year of economic reform, Dakshina Kannada MP Nalin Kumar Kateel has said.

Inaugurating a GST outreach programme for oil industry stakeholders organised by Hindustan Petroleum Corporation Ltd in Mangaluru, he said the GST’s implementation is an important step in the economic reform process in the country.

Apart from aiding the country’s economic development, the new indirect tax regime would also bring down instances of tax-related litigation.

‘Chinks to be ironed out’

The movement of goods across the country has become smooth after GST got under way, the BJP parliamentarian said.

Though there will be some teething troubles during the initial days, it will be solved in the coming months.

He said the demonetisation exercise and the thrust for digital transactions will help accelerate the process of economic reforms in the country.

Representatives from oil dealers’ associations, Indian Oil Corporation, Bharat Petroleum Corporation and Mangalore Refinery and Petrochemicals attended the awareness programme.

Officials from the Central Excise and GST, and from the Department of Commercial Taxes held technical sessions on GST on the occasion.

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